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Technology Stocks : Softbank Investment International (HK0648)

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To: Yamakita who started this subject	10/25/2000 2:19:27 AM
From: ms.smartest.person	Read Replies (1) of 615

Softbank parent uses options to divest shares 210.176.154.39 12:39 25-OCT-2000 Junichi Goto, president of Softbank Investment International (Strategic) Limited (Softbank), said that the decreasing of 87.5 million shares in Softbank by the parent in mid-October was due to the management exercising shares options rather than the shares being divested by the parent. The shares concerned did not flow into the market. He said the parent still owns 55 pct in Softbank after the divestment. However Softbank has no buy-back plans currently and he declined to give further information on whether or not the parent will further decrease shares in the future. Softbank shares were weak affected by market sentiment and the slowdown of its investment fund. Softbank and Chinadotcom are holding talks on a possible share swap scheme and no changes have been made to the initial swap share plan. According to the agreement, Softbank will swap about 21.54 million new shares with about 200,000 new shares in Chinadotcom. They will form a 50-50 joint venture to provide technology consulting service and they expect the agreement will be completed by the end of November. (End)

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